Intellus Advisors LLC Takes $202,000 Position in DraftKings Inc. (NASDAQ:DKNG)

Intellus Advisors LLC acquired a new stake in shares of DraftKings Inc. (NASDAQ:DKNG) in the fourth quarter, HoldingsChannel reports. The firm acquired 5,430 shares of the company’s stock, valued at approximately $202,000.

A number of other institutional investors have also recently made changes to their positions in DKNG. Pine Valley Investments Ltd Liability Co lifted its holdings in shares of DraftKings by 3.7% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 6,924 shares of the company’s stock valued at $271,000 after acquiring an additional 249 shares during the last quarter. Claro Advisors LLC lifted its holdings in shares of DraftKings by 1.5% in the 4th quarter. Claro Advisors LLC now owns 18,093 shares of the company’s stock valued at $673,000 after acquiring an additional 264 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of DraftKings by 8.0% in the 4th quarter. Allworth Financial LP now owns 3,659 shares of the company’s stock valued at $150,000 after acquiring an additional 271 shares during the last quarter. Westside Investment Management Inc. lifted its holdings in shares of DraftKings by 0.6% in the 4th quarter. Westside Investment Management Inc. now owns 45,118 shares of the company’s stock valued at $1,678,000 after acquiring an additional 288 shares during the last quarter. Finally, Nvwm LLC lifted its holdings in shares of DraftKings by 1.6% in the 4th quarter. Nvwm LLC now owns 19,343 shares of the company’s stock valued at $720,000 after acquiring an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 37.70% of the company’s stock.

Insider Transactions at DraftKings

In other news, insider Jason Robins sold 666,651 shares of DraftKings stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $42.42, for a total transaction of $28,279,335.42. Following the completion of the sale, the insider now directly owns 3,336,195 shares in the company, valued at approximately $141,521,391.90. The trade was a 16.65 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Paul Liberman sold 532,095 shares of DraftKings stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $38.30, for a total transaction of $20,379,238.50. Following the sale, the insider now owns 68,654 shares of the company’s stock, valued at $2,629,448.20. The trade was a 88.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,663,966 shares of company stock worth $112,550,362. Company insiders own 51.19% of the company’s stock.

DraftKings Price Performance

NASDAQ DKNG opened at $39.49 on Friday. The firm’s fifty day simple moving average is $42.17 and its two-hundred day simple moving average is $40.27. The company has a current ratio of 0.93, a quick ratio of 1.00 and a debt-to-equity ratio of 1.24. DraftKings Inc. has a 12-month low of $28.69 and a 12-month high of $53.61. The firm has a market capitalization of $19.35 billion, a P/E ratio of -37.25, a P/E/G ratio of 1.43 and a beta of 2.07.

DraftKings (NASDAQ:DKNG) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.35). DraftKings had a negative return on equity of 48.13% and a negative net margin of 10.64%. Analysts forecast that DraftKings Inc. will post 0.64 EPS for the current fiscal year.

Analysts Set New Price Targets

DKNG has been the subject of a number of analyst reports. Truist Financial increased their price target on shares of DraftKings from $50.00 to $60.00 and gave the company a “buy” rating in a report on Tuesday, February 18th. Wells Fargo & Company increased their price target on shares of DraftKings from $53.00 to $60.00 and gave the company an “overweight” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. raised their price objective on shares of DraftKings from $53.00 to $61.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 18th. Piper Sandler reissued an “overweight” rating and issued a $60.00 price objective (up previously from $48.00) on shares of DraftKings in a research note on Tuesday, February 18th. Finally, BTIG Research set a $59.00 price objective on shares of DraftKings in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $54.44.

About DraftKings

DraftKings Inc operates as a digital sports entertainment and gaming company in the United States and internationally. It provides online sports betting and casino, daily fantasy sports, media, and other consumer products, as well as retails sportsbooks. The company also engages in the design and development of sports betting and casino gaming software for online and retail sportsbooks, and iGaming operators.